Non-financial counterparty
From ACT Wiki
Regulation - EMIR.
(NFC).
A non-financial counterparty is a counterparty that does not fall under the financial counterparty banner, and is not a central counterparty (CCP), central clearing party (CCP), or a trade repository (TR).
A NFC can be further classified as an NFC+ which is an NFC which exceeds the clearing thresholds set out under EMIR.
A NFC may be exempt under EMIR from central clearing and collateral requirements, depending on the numbers of derivatives transactions they have outstanding.
